Michael Porter Defines Efficiency in this Competitiveness Keynote

Michael Porter's competitiveness keynote frames competitiveness as meaning one thing -- productivity. He describes the two as being entirely interchangeable. In today's business world, people have to be productive if they want to experience successful results and high standards of living.

Whether it is a country, a company or a team of people, daily efficiency levels have to be high and consistently maintained. According to Porter, maintaining competitiveness relies on three different things. Firstly, resources play a huge role in driving productivity. Without a platform of wealth or value, it is very difficult to take off and achieve high levels to maintain. The second and third driving factors are macroeconomic competitiveness and microeconomic competitiveness. Good business environments, in both the public and private sectors provide the necessary conditions for growth.

Porter's competitiveness keynote presents a fascinating perspective of the different components of success today.